Mumbai: Life Corporation of India (LIC), the country’s largest insurance service provider is all set to launch its initial heal insurance product by next month (November 2007). On the side lines of a meeting, Mr. D.D. Singh, LIC’s Health Insurance Division’s Executive Director, D.D. Singh, said, “In 15 days, we would file our application before the Insurance Regulatory and Development Authority (IRDA) for necessary approvals.”

For claim processing, the Hyderabad-based health insurance company has joined hands with eight third party administrators, Mr. Singh said.

Additionally, it has tied up with Bank of America, Syndicate Bank and Axis Bank for claims disbursement.

For distribution of its products, the company would make use of the services of LIC’s large network.

Mr. Singh added that the product would have a unit-linked insurance component built into it.